Less than two months before congressional elections, with
the economy a top issue for voters, Obama is turning his
attention to trade, highlighting his goal of doubling U.S.
exports over five years as a driver of economic growth.

“The more American companies export, the more they
produce,” Obama said after meeting with the group at the White
House. “And the more they produce, the more people they hire
and that means more jobs -- good jobs that often pay as much as
15 percent more than average.”

Obama formed the Export Council in March, laying out a goal
of doubling U.S. exports to about $3.1 trillion by 2015,
supporting 2 million additional jobs. As part of his trade
agenda, he is also working to revive stalled free-trade talks
with South Korea and reach a deal during his November visit to
Seoul.

The president didn’t reiterate the November deadline today,
only saying that his administration is working to resolve
outstanding issues and that he is seeking congressional approval
“as soon as possible.”

More Trade Missions

The report recommends the government increase the number of
trade missions and step up promotion abroad, increase financing
for the purchase of U.S. exports and finish work on pending
free-trade accords with South Korea, Colombia and Panama.

“The world wants to buy goods and services made in the
United States and our workers are ready to produce them,” Obama
said.

The advisory group didn’t address the value of China’s
currency, which labor unions and some lawmakers argue is a
barrier to U.S. exports and job growth. Obama didn’t mention
China in his remarks either.

Congressional hearings on China’s foreign exchange policy
continue for a second day in Washington with Treasury Secretary
Timothy F. Geithner testifying before the House Ways and Means
Committee and the Senate Banking Committee.

‘Currency Manipulation’

Leo Gerard, president of the United Steelworkers Union,
told a congressional panel yesterday that China’s currency
policy has “directly harmed millions of manufacturing workers”
while contributing to job losses and wage stagnation.

The yuan, which was pegged to the dollar before China
announced a shift in policy earlier this year, yesterday surged
to its highest level since 1993.

“We are losing market share to Europeans and Asian and
even South American countries,” McNerney told reporters at the
White House after the export council ended its meeting. “There
are 600 trade agreements being worked on right now around the
world,” he said, adding that the number of accords involving
the U.S. are in the “single digits.”

‘Agreement by November’

Commerce Secretary Gary Locke said the U.S. will
“hopefully have an agreement by November” with Korea when
Obama attends the G20 economic meeting in that country.

Obama had made “a firm commitment to trade agreements”
that are fair, Locke said. “They can be the source of a lot of
new jobs, good-paying jobs” for American workers.

By promoting U.S. exports, the president is also addressing
a core issue for the Democratic Party’s supporters in organized
labor.

“Trade issues have split the Democratic Party for
decades,” said Linda Fowler, professor of government at
Dartmouth College in Hanover, New Hampshire, who studies midterm
elections. “Blue-collar workers are not happy with the Obama
administration, which needs the unions to get out the vote in
this tough election.”

As part of the administration’s effort to showcase policies
that will bolster long-term growth, Obama will announce the
creation of a not-for-profit group that will be funded by
private industry and work with corporate executives to encourage
the study of math and science in school.